Valour Launches First Dogecoin ETP, Positioning DOGE for a Potential 100% Price Rally

The first-ever Dogecoin Exchange Traded Product (ETP) has been officially launched, sparking excitement for a possible DOGE price rally.

The long-awaited moment has arrived, as the world's first Dogecoin Exchange Traded Product (ETP) has finally hit the scene. This groundbreaking development is bound to send ripples of excitement through the crypto community, especially those eagerly anticipating a possible DOGE price rally.

When combined with several other bullish factors that have been fueling the recent surge in the DOGE price, this new ETP could propel the top meme coin toward a potential 100% increase to reach new all-time highs. Get ready for an exhilarating ride!

Valour Launches First Dogecoin ETP

In a recent move, Valour Inc., a subsidiary that specializes in DeFi technology, has introduced a Dogecoin ETP on Sweden's Spotlight Stock Market. This marks the first Dogecoin ETP to become available in Northern Europe, specifically catering to the Nordic countries.

According to a press release from Valour, this new Dogecoin ETP will effectively expand the company's product offerings and broaden its audience. Currently, Valour provides access to a diverse range of regulated digital asset ETPs, covering Bitcoin, Ethereum, and many of the top cryptocurrencies.

With approximately 40 ETPs on exchanges and a total of $609 million in Assets Under Management (AUM), this new ETP is set to expand Valour's services into new markets and reach new investors, promising even greater adoption for DOGE.

According to Valour, the newly launched Dogecoin ETP will provide investors with seamless access to the popular meme coin. This allows them to gain exposure to its market performance without undertaking the risks or complexities associated with directly owning crypto.

In a statement regarding this new development, Elaine Buehler, Head of Product at Valour, revealed that launching the world's first Dogecoin ETP is a significant achievement that aligns with Valour's mission to democratize access to digital assets. She also expressed enthusiasm for launching a product that "captures the essence" of DOGE's dynamic community and market presence.

Can New ETP Drive 100% DOGE Price Rally?

At the time of writing, Dogecoin is trading at $0.39, according to CoinMarketCap. Despite retesting and failing to cross the $0.4 resistance level, DOGE price has seen impressive gains since the beginning of the month.

These price gains have been largely attributed to broader market sentiment and bullish influences, including the concluded US Presidential elections, as well as SpaceX and Tesla CEO Elon Musk.

Now, with the introduction of a Dogecoin ETP, which could serve as another major bullish catalyst, the DOGE price might be poised for a massive 100% rally, indicating a potential surge to reach $0.78. Many analysts have already projected that DOGE could hit the $1 mark before the end of the year, possibly ranking it among the top-performing assets in this bull market.

Complementing the bullish sentiment set to generate from the new Dogecoin ETP, Johanna Belitz, Head of Nordics at Valour, highlighted the role of the US election results and Musk's influence in boosting DOGE's popularity and demand.

Considering that an increase in demand and a reduction in supply often drive price surges, we might see DOGE heading further north if the positive sentiment surrounding the new Dogecoin ETP sparks a rally.